NAI Hiffman has completed the sale of 18424 NW Frontage Road in Joliet for $1.5 million. The seven-acre, fenced and secured site features an 11,000-square-foot repair facility with four repair bays and approximately 100 trailer parking positions.
The transaction, from the initial letter of intent to the final closing, was completed in less than one month. The Disser Team, comprising Executive Vice Presidents Kelly Disser and Mike Freitag, Senior Associate Bill Byrne and Associate Broker TJ Feeney, represented the seller. The seller and buyer are both privately owned trucking companies.
“The quick turnaround created challenges, but all parties involved contributed to the successful transaction,” said Disser. “Initially, the seller intended to lease the property in order to maintain cash flow through the investment. Instead, we structured the transaction for the seller to create cash flow by financing the deal.
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